投資者加倍押注戴爾私有化交易
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????看起來，不只是卡爾?伊坎（維權(quán)投資者——譯注）認為邁克爾?戴爾同意出價249億美元收購與其同名的戴爾公司(Dell) 是筆好買賣。 ????最近，與邁克爾?戴爾合作的私募股權(quán)公司銀湖資本（Silver Lake Partners）在監(jiān)管文件中披露，它的一些有限合伙人總計將跟投3.50億美元。換句話說，銀湖資本的一些投資者雖然早就已經(jīng)通過投資銀湖間接暴露在戴爾的風險之下，但事實上他們還打算對這筆私有化交易進行雙倍（或更高的）押注。 ????銀湖資本原本同意從手頭10.3億美元的第四只基金向戴爾投資14億美元出頭的資金，上述消息意味著第四只基金未來的風險頭寸將只有10.5億美元左右。這個數(shù)字很重要，因為私募股權(quán)基金一般總是會努力把單項投資的額度控制在總資本的10%以下。 ????一位熟悉情況的消息人士稱，有限合伙人的跟投意愿“非常踴躍”，獲得了“超額認購”。（財富中文網(wǎng)）?? |
????It seems that Carl Icahn may not be the only one who thinks Michael Dell got a bargain by agreeing to buy his eponymous company for $24.9 billion. ????Silver Lake Partners, the private equity firm working with Michael Dell, has disclosed in a regulatory filing that some of its limited partners are making an aggregate co-investment of $350 million. In other words, some institutions that already have exposure to Dell (DELL) via their existing commitments to Silver Lake are effectively doubling down (or more) on this particular deal. ????Silver Lake originally agreed to invest just over $1.4 billion into Dell our of its $1.03 billion fourth fund, so this means the fund itself only will have around $1.05 billion of exposure. That's an important number, since private equity funds try not to let any one investment account for more than 10% of their total capital. ????A source familiar with the situation says that LP co-invest interest was "heavy" and "oversubscribed."??? |
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